leveraging data to achieve greater sales
DESCRIPTION
Presented by Ken Levy for InnoTech Oregon 2011TRANSCRIPT
Ken Levy CEO & Co-Founder
Leveraging Data to Achieve Greater Sales
Ken’s Background
In the store…
Sales Agent’s Knowledge
Train More Sales Agents…
Online
Problem
Opportunity
ONLINE DATA• Purchases• Product Views• Product Attributes• User Generated
Content• Social Profiles• A/B Testing
NEW SOLUTIONS• Personalized
Recommendations• Ratings & Reviews
Stats
eMarketer Survey: Features to Add to Website
Personalized Recommendations
Better Shopping Experience
Convert Browsers to Buyers
Larger Orders
More Repeat Customers
Key Types of Recommendations
Cross-sell
Similar
Personalized Up-sell
Data
How Does It Work?
Recommendation Engine
Product Page: Cross-Sell
Customers Also Bought
Product Page: Similar & Cross-Sell
Scrolling Window
Cart: Personalized Cross-Sell
Email: Personalized Up-sell
Monthly Newsletter Order confirmation Shipping Confirmation Ratings & Review Request
Abandoned Cart Use Cross-Sell
Email: Personalized Up-sell
Based upon your buying habits, you may also like…Based upon your purchases, you may also like…
Monthly Newsletter Order confirmation Shipping Confirmation Ratings & Review Request
Abandoned Cart Use Cross-Sell
25% More Sales
50% larger average order value
15% higher conversion
10% more sales
Ease of Integration
Ecommerce Platform
Online Retailer Online Retailer Online Retailer
Affordable Pricing
$50 to $1,300 per MonthRecommendations Displayed
Ratings & Review
Recommendations & Ratings /Reviews
Future: Social Recommendations
Friends who bought this…
Dan BoydChris Wicker
Nash Levy
Future: Social Profiles
Movies For You
In-Store Recommendations
In-Store Trends
1. Price compare and leave– Keep shopper in store with
recommendations
In-Store Trends
1. Price compare and leave– Keep shopper in store with
recommendations
2. In-Store Kiosks with Recommendations
3. Employee Handhelds with Recommendations
Merchandising Decisions
• What type on which pages?– Product Pages = Similar and Cross-sell– Cart = Cross-sell– Shipping & User Admin Pages = Personalized Up-sell– Newsletter, Order and Shipping = Personalized Up-sell– Cart abandonment = Similar and Cross-sell– Social / Facebook Store = Personalized Up-sell
Merchandising Decisions (2)
• How many recommendations?– Show 3 to 5 at a time and include a slider
• Where on the page?– To Right of product, or– Below product, but above the fold
Merchandising Decisions (3)
• Titles – shoppers like to know why– People also bought…– People also viewed…– Based upon your order, may we suggest…– Based upon your past purchases, you may also like…
• Same decisions for ratings & reviews
• Measure Results with Analytics
